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Ralph Nader: Out of the Coronavirus Crisis Can Come Efficient Historic Changes for Justice

Author and consumer advocate Ralph Nader, a 1996 Independent presidential candidate, 2000 Green Party presidential nominee, 2004 Independent presidential candidate and Reform Party nominee, and 2008 Independent presidential candidate and Peace and Freedom Party nominee, published the following editorial today on his website Nader.org. 

Many of us have heard that the Chinese character for “crisis” is also the character for “opportunity.” During the coronavirus crisis, we have a duty to apply political solutions and emerge much superior than before the pandemic struck an unready country. The time for serious civic reforms is now! Here are five fundamental opportunities for structural reforms and transformations:

1. The U.S. needs a permanent framework of explicit Congressional standards and accountability procedures for gigantic corporate welfare grants, loans, and other guarantees especially during emergencies. Without these standards, the U.S. government has repeatedly bailed out capitalism with “socialism for the rich.”

The most recent example is the $2.2 trillion salvation package for big corporations, small businesses, local and state governments, workers, and a little for consumers. The bailout package is nearly 1,000 pages of vague language, loopholes, and other gateways for waste, fraud, and corruption.

To put it mildly, Congress is granting the Treasury Department huge discretion to provide more taxpayer welfare to the business community. We know how this is going to turn out in the highly partisan, corporatist, secretive Administration of Donald Trump.

The same lack of standards and openness afflicts the corporate “socialism” of the Federal Reserve even more deeply. The Federal Reserve has occult ways of incurring debt and printing money to save the big boys of Wall Street and those in their dependent commercial circles.

To continue reading, visit Nader.org

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